Economics and Investing:

John Stossel: We are on the road to bankruptcy

As The World Revolving Door Turns: Former Obama official’s revolving door leads to hedge-fund defense project

Reader Tracy A. suggested this commentary from Mish Shedlock: Obama Wants Cheaper Pennies and Nickels; Why Not Do Away With Both [JWR’s Comment: My solution would be to 1.) Balance the Federal budget and 2.) Revalue the U.S. Dollar, knocking off two zeros, and 3.) Begin minting real silver coinage again. But sadly, that probably won’t happen in my lifetime.]

How Could Silver Short Sellers Cover Their Positions? (Thanks to Diana for the link.)

Tyler Durden asks: Why Were The Trillions In Fake Bonds Held In Chicago Fed Crates?

Items from The Economatrix:

Utah Panel Endorses Gold, Silver Commerce

Mortgage Settlement Not Only Thing Plunging Prices

Recovery Ending Event:  Big Oil Insider Warns of $5 Gas This Year

China Reduces Holdings Of US Treasuries To Lowest Levels Since June 2010